Completion of Acquisition
Source: RNS
6 September 2023
UK company number 01399411
LSE share code: CAL
JSE share code: CRP
ISIN: GB00BL6XZ716
LEI: 21380097W74N9OYF5Z25
CAPITAL & REGIONAL PLC
("Capital & Regional")
Completion of Acquisition
Capital & Regional (LSE: CAL), the UK focused REIT with a portfolio of community shopping centres, is pleased to announce that, further to the announcements on 10 August 2023 and 25 August 2023 and following the successful Capital Raising, it has now completed on the acquisition of The Gyle Shopping Centre in Edinburgh.
Lawrence Hutchings, Chief Executive Officer, comments: "The acquisition of The Gyle Shopping Centre, supported by the successful equity raise reflects the confidence that investors have in our needs based non-discretionary community centre strategy, our management platform and portfolio. These Grocery anchored centres are part of essential community infrastructure and continue to demonstrate the resilience and importance of physical stores to retailers.
"This established dual supermarket anchored community centre offers a number of asset management opportunities to create value, leveraging our expertise to improve occupancy and income. The acquisition will be accretive to income from day one, enhancing earnings in the first full year of ownership and thereby generating attractive risk-adjusted returns for shareholders.
"We would like to thank all of those involved in bringing this transaction to a successful conclusion."
Defined terms in this announcement bear the same meanings as in the prospectus published by the Company on 10 August 2023.
- ENDS -
For further information:
Capital & Regional plc 020 7932 8000
Lawrence Hutchings
Stuart Wetherly
Panmure Gordon (UK) Limited (Sponsor, Joint Financial Adviser and Joint Broker)
Amrit Mahbubani 020 7886 2500
Atholl Tweedie
Ailsa Macmaster
David Watkins
Numis Securities Limited (Joint Financial Adviser and Joint Broker)
Ben Stoop 020 7260 1000
Will Rance
Java Capital (JSE Sponsor)
Shivani Bhikha +27(0)78 120 6931
Daniel Ross +27(0)83 716 8665
FTI Consulting
Richard Sunderland 020 3727 1000
Maria Saud
Oliver Parsons
About Capital & Regional plc:
Capital & Regional is a UK focused retail property REIT specialising in shopping centres that dominate their catchment, serving the non-discretionary and value orientated needs of the local communities. It has a track record of delivering value enhancing retail and leisure asset management opportunities across a portfolio of tailored in-town community shopping centres.
Using its expert property and asset management platform Capital & Regional owns and manages shopping centres in Edinburgh, Hemel Hempstead, Ilford, Maidstone, Walthamstow and Wood Green.
Capital & Regional is listed on the main market of the London Stock Exchange (LSE) and has a secondary listing on the Johannesburg Stock Exchange (JSE).
For further information see www.capreg.com.
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